New Risk • May 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 15% Last year net profit margin: 43% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (15% net profit margin). Market cap is less than US$100m (₹3.63b market cap, or US$37.9m). Reported Earnings • May 29
Full year 2026 earnings released: EPS: ₹2.44 (vs ₹3.95 in FY 2025) Full year 2026 results: EPS: ₹2.44 (down from ₹3.95 in FY 2025). Revenue: ₹825.7m (up 93% from FY 2025). Net income: ₹124.5m (down 33% from FY 2025). Profit margin: 15% (down from 43% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 86% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₹65.76, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 17x in the Luxury industry in India. Total returns to shareholders of 475% over the past three years. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹50.44, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 487% over the past three years. New Risk • Feb 15
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (-181% net profit margin). Market cap is less than US$100m (₹3.51b market cap, or US$38.7m). Reported Earnings • Feb 15
Third quarter 2026 earnings released: EPS: ₹7.36 (vs ₹2.96 loss in 3Q 2025) Third quarter 2026 results: EPS: ₹7.36 (up from ₹2.96 loss in 3Q 2025). Net income: ₹53.5m (up ₹122.9m from 3Q 2025). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 81% per year, which means it is significantly lagging earnings growth. New Risk • Dec 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (₹411m revenue, or US$4.6m). Market cap is less than US$100m (₹4.04b market cap, or US$44.8m). New Risk • Nov 13
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (-94% net profit margin). Market cap is less than US$100m (₹4.00b market cap, or US$45.1m). Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹115, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 24x in the Luxury industry in India. Total returns to shareholders of 350% over the past three years. Board Change • Oct 09
High number of new directors There are 5 new directors who have joined the board in the last 3 years. MD & Chairman Jaimin Gupta was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annuncio • Sep 04
Varvee Global Limited, Annual General Meeting, Sep 30, 2025 Varvee Global Limited, Annual General Meeting, Sep 30, 2025. Location: 188/2, ranipur village, opp., cni church, narol, ahmedabad, 382 405, gujarat, india, ahmedabad India Annuncio • Aug 09
Aarvee Denims and Exports Ltd. to Report Q1, 2026 Results on Aug 14, 2025 Aarvee Denims and Exports Ltd. announced that they will report Q1, 2026 results on Aug 14, 2025 Annuncio • Sep 06
Jaimin Kailash Gupta entered into share purchase agreement to acquire an additional 60.81% stake in Aarvee Denims and Exports Ltd. (BSE:514274) from a group of shareholders for approximately INR 360 million. Jaimin Kailash Gupta, Tarachand Gangasahay Agrawal and Qmin Industries Limited entered into share purchase agreement to acquire an additional 60.81% stake in Aarvee Denims and Exports Ltd. (BSE:514274) from a group of shareholders for approximately INR 360 million on September 5, 2024. A cash consideration will be paid for 14,266,303 shares. The transaction has been approved by the board of Aarvee Denims and Exports. Annuncio • Aug 12
Aarvee Denims and Exports Ltd., Annual General Meeting, Sep 28, 2024 Aarvee Denims and Exports Ltd., Annual General Meeting, Sep 28, 2024, at 11:30 Indian Standard Time. Annuncio • Aug 03
Aarvee Denims and Exports Ltd. to Report Q1, 2025 Results on Aug 09, 2024 Aarvee Denims and Exports Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Annuncio • May 25
Aarvee Denims and Exports Ltd. to Report Q4, 2024 Results on May 29, 2024 Aarvee Denims and Exports Ltd. announced that they will report Q4, 2024 results on May 29, 2024 Annuncio • Feb 07
Aarvee Denims and Exports Ltd. to Report Q3, 2024 Results on Feb 14, 2024 Aarvee Denims and Exports Ltd. announced that they will report Q3, 2024 results on Feb 14, 2024 Annuncio • Nov 05
Aarvee Denims and Exports Ltd. to Report Q2, 2024 Results on Nov 10, 2023 Aarvee Denims and Exports Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Annuncio • Oct 10
Aarvee Denims and Exports Ltd. Announces Defaults on Payment of Interest/Repayment of Principal Amount on Loans from Banks/Financial Institutions and Unlisted Debt Securities for the Quarter Ended September 30, 2023 Aarvee Denims and Exports Ltd. announced defaults on payment of interest/repayment of principal amount on loans from banks/financial institutions and unlisted debt securities for the quarter ended September 30, 2023. Total amount outstanding as on September 30, 2023 is INR 2,181.7 million. Of the total amount outstanding, amount of default as on September 30, 2023 is INR 68.6 million. Annuncio • Aug 29
Aarvee Denims and Exports Ltd., Annual General Meeting, Sep 30, 2023 Aarvee Denims and Exports Ltd., Annual General Meeting, Sep 30, 2023, at 11:00 Indian Standard Time. Annuncio • Aug 08
Aarvee Denims and Exports Ltd. to Report Q1, 2024 Results on Aug 14, 2023 Aarvee Denims and Exports Ltd. announced that they will report Q1, 2024 results on Aug 14, 2023 Annuncio • Jul 09
Aarvee Denims and Exports Ltd. Announces Appointment of Abira Mansuri as Company Secretary and Compliance Officer As per the provisions of Regulation 30 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Aarvee Denims and Exports Ltd. announced that Mrs. Abira Mansuri (ACS42410) has been appointed as Company Secretary and Compliance Officer of the company with effect from 8th July 2023. Reason for Appointment: that Mrs. Abira Mansuri (ACS42410) has been appointed as Company Secretary and Compliance Officer of the company with effect from 8th July 2023 in place of Mr. Rahul Makwana who resigned from the said post. She is a associate member of The Institute of Company Secretaries of India. She has knowledge and experience in corporate, legal and secretarial services. Annuncio • Jun 03
Aarvee Denims and Exports Ltd. Announces Temporarily Suspension Production At All Its Production Units Aarvee Denims and Exports Ltd. announced temporarily suspended production at all its production units, namely Narol Unit, Vijay Farm Unit, and Sari Unit. This decision was primarily made due to the extremely poor demand conditions in both the domestic and international markets, as well as the financial constraints faced by the company. However, the company intends to restart its operations and production at Narol Unit once the market situation improves. Annuncio • May 23
Aarvee Denims and Exports Ltd. to Report Q4, 2023 Results on May 30, 2023 Aarvee Denims and Exports Ltd. announced that they will report Q4, 2023 results on May 30, 2023 Annuncio • May 13
Aarvee Denims and Exports Ltd. Announces Disclosure of Defaults on Payment of Interest/ Repayment of Principal Amount on Loans from Banks / Financial Institutions and Unlisted Debt Securities for the Quarter Ended 31 December 2022 Aarvee Denims and Exports Ltd. announced enclosing the disclosure of defaults on payment of interest/repayment of principal amount on loans from banks/financial institutions and unlisted debt securities for the quarter ended 31 December 2022. Total amount outstanding as on 31 December, 2022 of INR 2675 million. Of the total amount outstanding, amount of default as on 31 December, 2022 of INR 42.1 million. Reported Earnings • Feb 14
Third quarter 2023 earnings released: ₹9.47 loss per share (vs ₹5.35 loss in 3Q 2022) Third quarter 2023 results: ₹9.47 loss per share (further deteriorated from ₹5.35 loss in 3Q 2022). Revenue: ₹477.3m (down 59% from 3Q 2022). Net loss: ₹222.1m (loss widened 77% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Annuncio • Feb 07
Aarvee Denims and Exports Ltd. to Report Q3, 2023 Results on Feb 13, 2023 Aarvee Denims and Exports Ltd. announced that they will report Q3, 2023 results on Feb 13, 2023 Buying Opportunity • Dec 23
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be ₹29.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 19%. Reported Earnings • Nov 19
Second quarter 2023 earnings released: ₹7.40 loss per share (vs ₹5.27 loss in 2Q 2022) Second quarter 2023 results: ₹7.40 loss per share (further deteriorated from ₹5.27 loss in 2Q 2022). Revenue: ₹554.9m (down 54% from 2Q 2022). Net loss: ₹173.7m (loss widened 41% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Buying Opportunity • Nov 19
Now 22% undervalued Over the last 90 days, the stock is up 9.0%. The fair value is estimated to be ₹32.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 19%. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Aartiben Thakkar was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Annuncio • Aug 28
Aarvee Denims and Exports Ltd., Annual General Meeting, Sep 29, 2022 Aarvee Denims and Exports Ltd., Annual General Meeting, Sep 29, 2022. Reported Earnings • Aug 19
First quarter 2023 earnings released: ₹6.10 loss per share (vs ₹1.22 loss in 1Q 2022) First quarter 2023 results: ₹6.10 loss per share (down from ₹1.22 loss in 1Q 2022). Revenue: ₹1.10b (up 37% from 1Q 2022). Net loss: ₹142.9m (loss widened 400% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Annuncio • Aug 07
Aarvee Denims and Exports Ltd. to Report Q1, 2023 Results on Aug 13, 2022 Aarvee Denims and Exports Ltd. announced that they will report Q1, 2023 results on Aug 13, 2022 Reported Earnings • Jun 05
Full year 2022 earnings released: ₹26.65 loss per share (vs ₹27.36 loss in FY 2021) Full year 2022 results: ₹26.65 loss per share (up from ₹27.36 loss in FY 2021). Revenue: ₹4.21b (up 49% from FY 2021). Net loss: ₹625.2m (loss narrowed 2.6% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Annuncio • May 24
Aarvee Denims and Exports Ltd to Report Q4, 2022 Results on May 30, 2022 Aarvee Denims and Exports Ltd announced that they will report Q4, 2022 results on May 30, 2022 Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Non-Executive Director Aartiben Thakkar was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹5.35 loss per share (down from ₹2.42 loss in 3Q 2021). Revenue: ₹1.19b (up 27% from 3Q 2021). Net loss: ₹125.5m (loss widened 121% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Annuncio • Jan 30
Aarvee Denims and Exports Limited to Report Q3, 2022 Results on Feb 07, 2022 Aarvee Denims and Exports Limited announced that they will report Q3, 2022 results on Feb 07, 2022 Reported Earnings • Nov 18
Second quarter 2022 earnings released: ₹5.27 loss per share (vs ₹4.98 loss in 2Q 2021) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2022 results: Revenue: ₹1.23b (up 150% from 2Q 2021). Net loss: ₹123.6m (loss widened 5.8% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Executive Departure • Sep 23
Company Secretary & Compliance Officer Yashaswini Pandeya has left the company On the 16th of September, Yashaswini Pandeya's tenure as Company Secretary & Compliance Officer ended. We don't have any record of a personal shareholding under Yashaswini's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 6.92 years. Board Change • Sep 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent Non-Executive Director Aartiben Thakkar was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 18
First quarter 2022 earnings released: ₹1.22 loss per share (vs ₹10.63 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₹839.4m (up ₹804.0m from 1Q 2021). Net loss: ₹28.6m (loss narrowed 89% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 03
Full year 2021 earnings released: ₹27.36 loss per share (vs ₹17.87 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: ₹2.87b (down 49% from FY 2020). Net loss: ₹641.9m (loss widened 53% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 13
Third quarter 2021 earnings released: ₹2.42 loss per share (vs ₹3.49 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: ₹939.4m (down 15% from 3Q 2020). Net loss: ₹56.8m (loss narrowed 31% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 99% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Annuncio • Feb 02
Aarvee Denims and Exports Limited to Report Q3, 2021 Results on Feb 11, 2021 Aarvee Denims and Exports Limited announced that they will report Q3, 2021 results on Feb 11, 2021 Is New 90 Day High Low • Dec 07
New 90-day high: ₹13.59 The company is up 15% from its price of ₹11.80 on 08 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 21% over the same period. Annuncio • Nov 14
Aarvee Denims and Exports Limited, Annual General Meeting, Dec 26, 2020 Aarvee Denims and Exports Limited, Annual General Meeting, Dec 26, 2020, at 11:00 Indian Standard Time. Agenda: To consider financial year ended March 31, 2020. Annuncio • Oct 08
Aarvee Denims and Exports Limited Announces Management Changes Aarvee Denims and Exports Limited announced resignation of Darshak Thaker as Company Secretary and Compliance Officer and appointment of Yashaswani Pandeya for the same. Reported Earnings • Sep 19
First quarter earnings released Over the last 12 months the company has reported total losses of ₹418.9m, with losses widening by 70% from the prior year. Total revenue was ₹4.00b over the last 12 months, down 43% from the prior year. Annuncio • Sep 08
Aarvee Denims and Exports Limited to Report Q1, 2021 Results on Sep 15, 2020 Aarvee Denims and Exports Limited announced that they will report Q1, 2021 results on Sep 15, 2020 Annuncio • Jul 26
Aarvee Denims and Exports Limited to Report Q4, 2020 Results on Jul 28, 2020 Aarvee Denims and Exports Limited announced that they will report Q4, 2020 results on Jul 28, 2020